HomeMy WebLinkAbout2008-01-02 PACKET 04.H.REQUEST OF CITY COUNCIL ACTION COUNCIL
MEETING
DATE 1-2-08
PREPARED BY: Finance
ORIGINATING DEPARTMENT
AGENDA
ITEM # �,f
s�
Ron Hedberq
STAFFAUTHOR
:F * :F k :F :F :F :F ;F * * * * * * k W :F Ye * k * :F * k * * * :k k :k 'M. :t :F Y� :F * * * * * * k k :t :F :F ;F
COUNCIL ACTION REQUEST:
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2008.
STAFF RECOMMENDATION:
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2008
: � _ ��' G •►
ADVISORY COMMISSION ACTION:
❑ PLANNING
❑ PUBLIC SAFETY
❑ PUBLIC WORKS
❑ PARKS AND RECREATION
❑ HUMAN SERVICES/RIGHTS
❑ ECONOMIC DEV. AUTHORITY
❑
SUPPORTING DOCUMENTS:
BUDGETED AMOUNT
�' �
REVIEWED
❑
❑
❑
❑
❑
❑
❑
ACTUALAMOUNT
APPROVED
❑
❑
❑
❑
❑
❑
❑
DENIED
❑
❑
❑
❑
❑
❑
❑
❑ MEMO/LETTER:
� RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
❑ OTHER:
ADMINISTRATORS COMMENTS:
��
�,,,. - ,-
' �.,, .S�C�-� /�9 / �- z �-� 7
✓ City Administrator r Date
.«�,������������,�����������,�����������������,���
COUNCIL ACTION TAKEN: APPROVED ❑ DENIED ❑ OTHER
� �
G\finance\Counal Items\CC Action Form designating depositories doc
RESOLUTION NO. 08-[Resolution Number]
DESIGNATING DEPOSITORIES FOR CITY FUNDS AND AUTHORIZING THE
INVESTMENT OF SURPLUS FUNDS FOR 2Q0$
WHEREAS, Minnesota Statute Chapter 118A requires that the City
Council must designate all banks, savings and loan associations, and investment
brokers as depositories of City funds on a yearly basis, and
WHEREAS, the City Council may authorize the Treasurer or Chief
Financial Officer to exercise powers of the governing body in designating a
depository of City funds.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of
Cottage Grove, County of Washington, State of Minnesota, authorizes Ronald
Hedberg, Finance and Administrative Services Director of the City of Cottage
Grove to designate depositories of City funds
BE IT FURTHER RESOLVED, that the Finance and Administrative
Services Director or other responsible designee of the City of Cottage Grove be
authorized to make bank wire transfers for investment transactions.
Passed this 2" day of January 2008.
Sandra Shiely, Mayor
Attest:
Ryan Schroeder, City Administrator